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Additional FAQ

  1. Try again. You've already had the experience now and can choose better.
  2. If necessary, check them out with your local financial authorities, and ask what they can do if you are scammed again.
  3. Manage your money better, don't put them all in one basket. In addition to that, there are several things you can do to protect yourself further.
  4. Take immediate steps to protect your financial accounts and personal information.
  5. Contact family, friends, or support groups to share your experience and seek emotional support.
  6. Learn from the scam experience by educating yourself about common fraud tactics, warning signs, and ways to protect yourself in the future.
  7. Use the experience as an opportunity for personal growth and learning.
  8. Recognize that scams can happen to anyone, and it does not reflect your intelligence or competence.

Continue Reading at How to Recover from Forex Broker Scams

Regardless of what methods they use, you can identify blacklisted forex brokers with these suspicious attributes:

  1. Promises of big profits
  2. Claims of no risks
  3. No reputable regulation
  4. Unprofessional practices
  5. Questionable platforms
  6. Fake rating
  7. No SSL certificates

Whether you have already signed up to a forex broker or are about to commit yourself to one, here we provide you with a checklist to assess the reliability of a broker:

  1. My broker holds at least one license from reputable regulators such as FCA, ASIC, CFTC, etc.
  2. My broker's website has an SSL certificate.
  3. My broker offers reliable trading platforms such as MT4, MT5, cTrader, etc.
  4. My broker does not interfere with the withdrawal of my funds.
  5. My broker does not ask me about my debit/credit card information.
  6. My broker does not make unrealistic promises and claims.
  7. My broker has quick and responsive customer support.
  8. My broker receives great ratings and reviews from multiple reliable and independent sources.
  9. My broker accepts payment with standard methods, such as Visa/Mastercard, Wire Transfer, PayPal, or Skrill.
  10. My broker does not rely on its operation around additional services like binary options, PAMM, etc.

Continue Reading at Top Blacklisted Forex Brokers You Should Avoid

As a general guideline, using a demo account for at least a few weeks can give traders a reasonable idea of a broker's quality. However, it's essential to remember that a demo account may not fully replicate the experience of live trading, as there can be differences in order execution, slippage, and liquidity between the two environments. 

Continue Reading at How Long Should You Trade on Demo Account?

Several forex companies of Russian origin have moved to Europe -mainly Cyprus and the UK in order to ease global expansion. Here are some of them that might be good for you:

  • Exness
    Exness is authorized and regulated across Europe through MiFID II. Exness is very suitable for traders with low capital requirement and various account offerings.
  • XM Group
    XM Group is authorized and regulated by the Cyprus Securities and Exchange Commission (CySec), legitimizing its operations across Europe.
  • Alpari
    A few years ago, Alpari was the most famous Russian forex broker worldwide. Its popularity dropped following tragic losses suffered by its UK entity in 2015. Currently, Alpari only registered in Belarus and St Vincent and the Grenadines. Nevertheless, Alpari is still one of the favorite brokers for Eastern European and Russian residents.

Continue Reading at Best Forex Brokers in Russia